EIF Commits €40 Million to Norway’s HAVN Capital II to Accelerate Europe’s Low-Carbon Transition

EIF Commits €40 Million to Norway’s HAVN Capital II to Accelerate Europe’s Low-Carbon Transition

(IN BRIEF) The European Investment Fund (EIF) has committed €40 million to HAVN Capital II, a Norway-based private equity fund targeting €250 million to invest in companies advancing renewable energy, electrification, and energy efficiency in Northern and Western Europe. The fund aims to support 8 to 10 growth-stage businesses driving the low-carbon transition, aligning with the EU’s 2050 climate neutrality goals. Backed by the EIF, part of the European Investment Bank (EIB) Group, this initiative fosters innovation, attracts further investment in green energy, and contributes to the EIB’s Climate Bank Roadmap for sustainability.

(PRESS RELEASE) LUXEMBOURG, 27-Nov-2024 — /EuropaWire/ — The European Investment Fund (EIF) has pledged €40 million to HAVN Capital II, a Norway-based private equity fund focused on advancing Europe’s clean energy transition. HAVN Capital II will exclusively invest in companies driving renewable energy, electrification, and energy efficiency across Northern and Western Europe.

The fund aims to raise €250 million in total and plans to invest in 8 to 10 growth-stage service companies committed to building a low-carbon economy. Backed by the EIF, part of the European Investment Bank (EIB) Group, this initiative supports the EU’s climate neutrality target for 2050 while attracting additional institutional investors to the green energy sector.

Advancing Europe’s Green Economy

EIB Group Vice-President Thomas Östros emphasized the importance of the initiative, stating, “By supporting HAVN Capital II, we are fostering innovation and leadership in sustainable energy solutions. This partnership will accelerate Europe’s green transition while drawing further investment into climate-focused industries.”

HAVN Capital II, led by a team with decades of experience in energy ventures, will provide investments ranging from €15 million to €40 million. The fund’s strategy aligns with Europe’s ambitions to scale renewable energy technologies and drive sustainable growth.

A Commitment to Innovation

Tomas Hvamb, Managing Partner at HAVN Capital, expressed his gratitude for the EIF’s support. “This collaboration empowers us to champion European companies that are pioneering the low-carbon transition. By focusing on renewable energy, electrification, and energy efficiency, we aim to create meaningful environmental and economic impact,” he said.

Driving Environmental Progress

The EIF’s commitment to HAVN Capital II reflects the EIB Group’s broader “Climate Bank Roadmap” initiative, prioritizing climate action and environmental sustainability. This partnership represents a critical step in scaling Europe’s green economy, enabling innovative companies to lead the way toward a sustainable future.

Background information

EIF

The EIF is part of the European Investment Bank (EIB) Group. It supports Europe’s SMEs by improving their access to finance through a wide range of selected financial intermediaries. The EIF designs, promotes and implements equity and debt financing instruments targeting SMEs. In this role, the EIF fosters EU objectives in support of entrepreneurship, growth, innovation, research and development, the green and digital transitions and employment.

HAVN Capital

HAVN Capital is a thematic buyout investor specialising in the lower-middle market. The firm partners with innovative companies to drive decarbonisation across Europe. HAVN Capital offers strategic support to scale sustainable solutions within its core themes of renewable energy, electrification, and energy efficiency. Its mission is to foster sustainable, profitable growth, delivering industry-leading returns for investors whilst yielding significant environmental impact.

Media Contacts:

EIB Group: Thomas Eriksson | t.eriksson@ext.eib.org

HAVN Capital: Liam McKay | lm@havncapital.com

SOURCE: European Investment Fund